Hank Greenberg’s Nixonesque reclamation continues on Capitol Hill today as the former AIG chief will continue to shift all the blame to others for the debacle at the company he built.
The spinning has been white hot this week. ProPublica reported late last night that AIG had declared war on its former boss and was circulating a dossier in Washington, D.C. full of negative stuff about him.
That was followed by a loving Wall Street Journal sitdown with the man himself in today’s paper in which he continued to make the case that the leverage that crippled AIG wouldn’t have been disasterous under his iron fist.
And as he’s even trying to get back into the game with his own plan for AIG, his mere presence on The Hill has caused agita among Republicans, according to the WSJ.
“The committee’s ranking minority member, Rep. Darrell Issa (R-Calif.), urged Rep. Towns in a letter late Wednesday to “reconsider” allowing Mr. Greenberg to testify, “or at the very least, join me in publicly acknowledging the veracity of his testimony is questionable.”
Lee Wolosky, a lawyer for Mr. Greenberg, issued a statement in response to Rep. Issa’s letter saying a “few civil allegations are still being investigated by regulators,” but contending those “have nothing to do with AIG’s current situation.” He said Mr. Greenberg “welcomes the opportunity” to discuss his plan for AIG “on the merits.”
We’ll never know what would’ve been different under Greenberg, but we do know he fell under serious enough scrutiny that his board kicked him to the curb without shedding many tears. And he is the guy who thought AIG Financial Products was a good idea in the first place.
The sorting continues.
Business Insider Emails & Alerts
Site highlights each day to your inbox.